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Mr Hatch steadfastly denied that the pit wall collapse might lead the company into financial trouble.

The previous owner of Bronzewing, View Resources, was forced to call in administrators in early 2008 after struggling to correctly calculate gold grades and consistently falling short of production targets.

In 2000, three workers at the mine were killed when an underground barricade broke, releasing a massive rock slide.

Navigator had been forecasting production of 101,000 ounces of gold at a cash cost of $806 an ounce this financial year.

The company said it intended to maintain overall ore supply to the mill from its other open pits, including Challenger South, which it is in the process of bringing into production.